Quantum computing threat to crypto is exaggerated, CoinShares says

The threat of quantum computing to cryptocurrencies is a predictable engineering challenge rather than an urgent crisis, according to a new report from CoinShares. The firm argued that the threat has been exaggerated. While some analyses suggest that 20-50% of the BTC supply could be vulnerable to key extraction via quantum computing, CoinShares described this as a flawed assessment. The report claims that only about 8% of the supply, or 1.6 million BTC, could be exposed to such attacks, with a mere 10,200 BTC being enough to cause market disruption. Furthermore, CoinShares asserted that decrypting Bitcoin's encryption would require a system 100,000 times more powerful than the most advanced quantum computers available today.